Federal regulators shut down two more banks in N.C and CO yesterday
source: http://www.washingtonpost.com/wp-dyn/content/article/2009/04/10/AR2009041003374.html
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- ClipsFC
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Federal regulators shut down two more banks yesterday, raising the number of bank failures so far this year to 23.
The first bank was Cape Fear Bank in Wilmington, N.C., the first North Carolina bank to fail in nearly 16 years. The other bank was New Frontier Bank of Greeley, Colo., the second Colorado bank this year to collapse. The Federal Deposit Insurance Corp. took over both banks after their respective state regulators closed them down. New Frontier Bank has $2 billion in assets and $1.5 billion in deposits. Cape Fear Bank has $403 million in deposits and $492 million in assets.
The agency estimated that the two closures would reduce the federal deposit insurance fund by $801 million. This year's tally of 23 bank failures is nearing the total for all of 2008, when 25 U.S. banks were seized by regulators.
4/11 6:37 AM ET ClipsFC
The first bank was Cape Fear Bank in Wilmington, N.C., the first North Carolina bank to fail in nearly 16 years. The other bank was New Frontier Bank of Greeley, Colo., the second Colorado bank this year to collapse. The Federal Deposit Insurance Corp. took over both banks after their respective state regulators closed them down. New Frontier Bank has $2 billion in assets and $1.5 billion in deposits. Cape Fear Bank has $403 million in deposits and $492 million in assets.
The agency estimated that the two closures would reduce the federal deposit insurance fund by $801 million. This year's tally of 23 bank failures is nearing the total for all of 2008, when 25 U.S. banks were seized by regulators.
4/11 6:37 AM ET ClipsFC
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1percent
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Just wait for the upcoming Dollar Crisis.
I also like how the FDIC is withholding the results of the banking "stress test" until after 1st Q earnings reports later this month...
23 is going to seem like a dream.
Gold, Silver and Ammo. Start stocking up!
Pareo Nullus
- 2 years ago
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1percent
